SERVICE MASTERS: what changed
SERVICE MASTERS
Largest movements
- Cash -€31,661
down €31,661 (-71.0%), from €44,595 to €12,933
mainly Net result for the year (-€66,532) and Investment in fixed assets (net) (-€14,769)
- Stocks and contracts -€27,392
down €27,392 (-100%), from €27,392 to €0
- Receivables within one year +€12,143
up €12,143 (+28.0%), from €43,332 to €55,475
of which Trade receivables: +€12,451
- Deferred charges and accrued income -€6,229
down €6,229 (-93.9%), from €6,634 to €404
- Tangible fixed assets +€2,364
up €2,364 (+2.5%), from €93,577 to €95,941
of which Plant, machinery and equipment: +€5,305
- Profit (loss) carried forward -€66,532
down €66,532 (-51.9%), from €128,139 to €61,606
- Trade debts +€7,617
up €7,617 (+23.3%), from €32,740 to €40,357
- Debts after one year +€6,147
up €6,147, from €0 to €6,147
- Current portion of long-term debt -€3,346
down €3,346 (-64.9%), from €5,153 to €1,808
- Tax, wage and social debts +€3,080
up €3,080 (+38.1%), from €8,088 to €11,168
- Gross operating margin -€71,311
down €71,311, from €24,181 to -€47,130
- Depreciation +€4,939
up €4,939 (+63.2%), from €7,810 to €12,749
- Taxes -€4,827
down €4,827 (-93.6%), from €5,156 to €329
- Financial charges +€2,025
up €2,025 (+141%), from €1,439 to €3,464
- Financial income -€1,296
down €1,296 (-96.2%), from €1,347 to €51
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,874 | €164,754 | -€51,120 | -23.7% |
| Fixed assets | 21/28 | €93,921 | €95,941 | +€2,020 | +2.2% |
| Tangible fixed assets | 22/27 | €93,577 | €95,941 | +€2,364 | +2.5% |
| Land and buildings | 22 | €74,488 | €70,348 | -€4,140 | -5.6% |
| Plant, machinery and equipment | 23 | €8,003 | €13,308 | +€5,305 | +66.3% |
| Furniture and vehicles | 24 | €11,087 | €12,286 | +€1,199 | +10.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €344 | €0 | -€344 | -100% |
| Current assets | 29/58 | €121,953 | €68,812 | -€53,140 | -43.6% |
| Stocks and contracts in progress | 3 | €27,392 | €0 | -€27,392 | -100% |
| Stocks | 30/36 | €27,392 | €0 | -€27,392 | -100% |
| Amounts receivable within one year | 40/41 | €43,332 | €55,475 | +€12,143 | +28.0% |
| Trade receivables | 40 | €37,292 | €49,743 | +€12,451 | +33.4% |
| Other amounts receivable | 41 | €6,041 | €5,732 | -€309 | -5.1% |
| Cash at bank and in hand | 54/58 | €44,595 | €12,933 | -€31,661 | -71.0% |
| Deferred charges and accrued income | 490/1 | €6,634 | €404 | -€6,229 | -93.9% |
| Total equity and liabilities | 10/49 | €215,874 | €164,754 | -€51,120 | -23.7% |
| Equity | 10/15 | €156,714 | €90,182 | -€66,532 | -42.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,975 | €9,975 | = | 0.0% |
| Distributable reserves | 133 | €9,975 | €9,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,139 | €61,606 | -€66,532 | -51.9% |
| Amounts payable | 17/49 | €59,160 | €74,572 | +€15,412 | +26.1% |
| Amounts payable after more than one year | 17 | €0 | €6,147 | +€6,147 | |
| Financial debts | 170/4 | €0 | €6,147 | +€6,147 | |
| Amounts payable within one year | 42/48 | €59,160 | €68,425 | +€9,265 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €5,153 | €1,808 | -€3,346 | -64.9% |
| Financial debts | 43 | €828 | €1,104 | +€276 | +33.3% |
| Credit institutions | 430/8 | €828 | €1,104 | +€276 | +33.3% |
| Trade debts | 44 | €32,740 | €40,357 | +€7,617 | +23.3% |
| Suppliers | 440/4 | €32,740 | €40,357 | +€7,617 | +23.3% |
| Taxes, remuneration and social security | 45 | €8,088 | €11,168 | +€3,080 | +38.1% |
| Taxes | 450/3 | €8,088 | €11,168 | +€3,080 | +38.1% |
| Other amounts payable | 47/48 | €12,351 | €13,989 | +€1,638 | +13.3% |
| Non-recurring operating income | 76A | €11,012 | €0 | -€11,012 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,810 | €12,749 | +€4,939 | +63.2% |
| Other operating charges | 640/8 | €3,007 | €2,567 | -€440 | -14.6% |
| Non-recurring operating charges | 66A | - | €344 | +€344 | |
| Gross operating margin | 9900 | €24,181 | -€47,130 | -€71,311 | |
| Operating profit (loss) | 9901 | €13,364 | -€62,790 | -€76,154 | |
| Financial income | 75/76B | €1,347 | €51 | -€1,296 | -96.2% |
| Recurring financial income | 75 | €1,347 | €51 | -€1,296 | -96.2% |
| Financial charges | 65/66B | €1,439 | €3,464 | +€2,025 | +141% |
| Recurring financial charges | 65 | €1,439 | €3,464 | +€2,025 | +141% |
| Profit (loss) for the period before taxes | 9903 | €13,272 | -€66,203 | -€79,474 | |
| Income taxes | 67/77 | €5,156 | €329 | -€4,827 | -93.6% |
| Profit (loss) for the period | 9904 | €8,115 | -€66,532 | -€74,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,115 | -€66,532 | -€74,648 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.